Tesla Inc. on Monday said it intends to raise about $1.5 billion in a bond offering as the U.S. automaker seeks to ramp up production of its newest electric sedan, the Model 3.
The debt offering marks Tesla’s debut in the junk-bond market and the company will start roadshows on Monday, IFR reported, citing lead bankers on the deal.
Tesla is counting on the Model 3, its least pricey car, to become a profitable, mass market manufacturer of electric cars.
